We feature Western Lithium USA Corp (TSX: WLC), a lithium developer, as today’s top momentum gainer since it has rallied more than 60% during the last two days touching its new 52-week highs with huge volume. During yesterday’s trading session, WLC was among the top gainers in the Canadian mining sector after gaining 18% and closed at its 52-week high of $0.85 while recording significant volumes of 5.3 million shares. During the last 5-trading sessions, WLC skyrocketed 112% recording daily average volumes of 2.3 million shares, while the stock accumulated over 165% during the past one month with 30-day average volumes of 506,451 shares. On 13th Feb, 2014 WLC announced that it has received a milestone payment of $1.5 million pursuant to the Royalty Purchase Agreement with Orion Mine Finance Fund I LP, the company’s largest shareholder and a major New York investment fund, to be put towards building the planned Lithium Demonstration Plant expected to be operational in the fourth quarter of 2014.
Company Description:
Western Lithium USA Corporation (TSX: WLC) explores for lithium in the southwestern United States. The company is developing the Kings Valley, lithium deposit in Nevada.
6-Months Stock Chart:
Source: Bloomberg
